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To: limit who wrote (5703)	5/28/1998 3:52:00 AM
From: Doug R	Respond to of 7054

You don't understand TADs, do you? You don't have to answer, it's obvious that you don't. Doug R

To: limit who wrote (5703)	5/29/1998 12:49:00 AM
From: Z man	Respond to of 7054

General info... " I am writing to provide a progress report on our efforts to obtain dismissal of the Section 304 petition against you filed by Mr. Shimron. On or before March 20, 1998, we will file a motion to dismiss the section 304 petition on the basis that it is improper under the principles od United States bankruptcy law ( it has been dismissed btw ). Among other things, we believe that the Trustee's actions, in waiting more than ten years after the commnecement of the Israeli proceedings before taking actions against you in the United States ( where he has known you have been residing and struggling to start a new life ), and in unilaterally withdrawing a settlement agreement among you and your Israeli creditors, are unfair, inequitable, improper and inconsistent with the United States bankruptcy and legal principles and policies. .... For the foregoing reasons, and with the observations also set forth in our February 26, 1998 letter to you, we are highly confident that the section 304 petition will be dismissed. Section 304 petitions, which commence proceedings ancillary to foreign bankruptcy proceedings, are usually filed contremporaneously with the foreign proceedings in order to ensure that one court has the ability to administer all of the debtors assets. It is highly unusual for a Section 304 petition to be filed against a debtor, and so many years after the beginningof a foreign bankruptcy proceeding, especially where as here, the Trustee and creditors have known of your whereabouts and the possibility that you were creating asset value in the United States. The timing of the action, on the verge of the consumation of a settlement to which all your creditors consented, is highy suspect."